We can see very nice move from oversold BTC.
But.
Seems to be huge short squeeze towards previous support (21 k) and trend line from April.
So - we can see some move down and consolidation during which ETH and alts will follow up strongly.
OR
It's another move to mark tops and range bound for BTC during which (till the end of september or so imo) BTC will be forming bottom around 18.5 k while ETH will head towards range low (with keeping higher low imo) and alts will bleed much more heading towards their new lows.
1730 is crucial for ETH imo. If we can break it up then.. 1830 and even more should be next.
But if we reject it here then correction will be continued imo.
Last chance for bulls in bear/bull case will be correction towards 1570, keeping it and printing nice ascending triangle as accumulation pattern.
But.
Seems to be huge short squeeze towards previous support (21 k) and trend line from April.
So - we can see some move down and consolidation during which ETH and alts will follow up strongly.
OR
It's another move to mark tops and range bound for BTC during which (till the end of september or so imo) BTC will be forming bottom around 18.5 k while ETH will head towards range low (with keeping higher low imo) and alts will bleed much more heading towards their new lows.
1730 is crucial for ETH imo. If we can break it up then.. 1830 and even more should be next.
But if we reject it here then correction will be continued imo.
Last chance for bulls in bear/bull case will be correction towards 1570, keeping it and printing nice ascending triangle as accumulation pattern.